India's 10-year bond yield steady at 6.76%, traders remain cautious
Business
India's 10-year bond yield barely budged on Wednesday, sitting at 6.76%.
Traders are in wait-and-see mode after a big drop in yields last month, the sharpest since mid-2019, thanks to strong demand for government bonds.
RBI over $2.5bn inflows, ₹34,000cr auction
The RBI's recent move to let more investors buy ultra-long-term bonds brought in over $2.5 billion last month.
Now, all eyes are on the upcoming ₹34,000 crore bond auction this week, which could shake up the market again.
Meanwhile, global bond markets are reacting to strong US jobs data and possible US rate hikes, so things could get interesting soon.